Clearbridge Investments LLC Has $95.83 Million Stock Holdings in Regal Rexnord Co. (NYSE:RRX)

Clearbridge Investments LLC raised its stake in Regal Rexnord Co. (NYSE:RRX) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 617,762 shares of the company’s stock after buying an additional 56,590 shares during the period. Clearbridge Investments LLC owned 0.93% of Regal Rexnord worth $95,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RRX. Arrowstreet Capital Limited Partnership bought a new position in shares of Regal Rexnord in the 4th quarter valued at $747,000. Brown Brothers Harriman & Co. raised its position in Regal Rexnord by 6.4% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,485 shares of the company’s stock valued at $385,000 after purchasing an additional 150 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Regal Rexnord by 13.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 9,323 shares of the company’s stock valued at $1,446,000 after purchasing an additional 1,104 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Regal Rexnord during the fourth quarter worth about $6,427,000. Finally, Norges Bank acquired a new position in shares of Regal Rexnord in the fourth quarter valued at approximately $235,188,000. Institutional investors own 99.72% of the company’s stock.

Regal Rexnord Stock Performance

Shares of Regal Rexnord stock opened at $113.80 on Tuesday. The company has a market cap of $7.54 billion, a P/E ratio of 38.57, a PEG ratio of 1.37 and a beta of 1.11. The company has a current ratio of 2.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $135.21 and a two-hundred day moving average price of $155.42. Regal Rexnord Co. has a 1-year low of $111.15 and a 1-year high of $185.28.

Regal Rexnord (NYSE:RRX) last issued its earnings results on Wednesday, February 5th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.22). Regal Rexnord had a return on equity of 9.57% and a net margin of 3.25%. As a group, analysts anticipate that Regal Rexnord Co. will post 9.95 EPS for the current year.

Regal Rexnord Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, March 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, March 31st. Regal Rexnord’s dividend payout ratio is presently 47.46%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup cut their target price on shares of Regal Rexnord from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. StockNews.com cut shares of Regal Rexnord from a “buy” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group increased their price objective on Regal Rexnord from $191.00 to $213.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on Regal Rexnord in a report on Thursday, December 12th. They set a “buy” rating and a $215.00 target price on the stock. Finally, Oppenheimer decreased their price target on Regal Rexnord from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Regal Rexnord presently has an average rating of “Moderate Buy” and a consensus price target of $195.13.

Regal Rexnord Company Profile

Regal Rexnord Corporation manufactures and sells industrial powertrain solutions, power transmission components, electric motors and electronic controls, air moving products, and specialty electrical components and systems worldwide. The Industrial Powertrain Solutions segment provides mounted and unmounted bearings, couplings, mechanical power transmission drives and components, gearboxes, gear motors, clutches, brakes, special, and industrial powertrain components and solutions for food and beverage, bulk material handling, eCommerce/warehouse distribution, energy, mining, marine, agricultural machinery, turf and garden, and general industrial markets.